A relative increase in demand for quality can have one of two potentially countervailing effects: it can cause substitution of one quality for another and/or it might expand overall demand by bringing new consumers into the market. This article investigates demand expansion and substitution...

This paper analyzes price differentials among conventional, cage-free, organic, andOmega-3 eggs using retail scanner data from two regional markets and the United Statesas a whole. Results reveal significant premiums attributable to cage-free (a 57% premiumon average) and organic (an 85% premium...

We compare the ability of three preference elicitation methods (hypothetical choices, non-hypothetical choices, and non-hypothetical rankings) and three discrete-choice econometric models (the multinomial logit, the independent availability logit, and the random parameter logit) to predict...

The Environmental Protection Agency's new Concentrated Animal Feeding Operations (CAFO) regulations are forcing some farms to export livestock manure to off-farm acres. The regulation compliance cost depends on the willingness of neighboring crop producers to accept or pay for the manure. This...

Little research has been conducted on evaluating out-of sample forecasts of discrete dependent variables. This study describes the large and small sample properties of two forecast evaluation techniques for discrete dependent variables: receiver-operator curves and out-of-sample log-likelihood...

A previous study showed that imposing economic restrictions improves the forecasting ability of food demand systems, thus warranting their use even when rejected in-sample. This study attempts to determine whether this is due solely to the fact that restrictions improve degrees of freedom....

Six popular crop yield distributions are compared to determine which best describes yield fluctuations out-of-sample. For 183 crop and county combinations, each distribution is estimated and ranked according to its log-likelihood function observed at out-of-sample observations. A semiparametric...

Little research has been conducted on evaluating out-of-sample forecasts of limited dependent variables. This study describes the large and small sample properties of two forecast evaluation techniques for limited dependent variables: receiver-operator curves and out-of-sample-log-likelihood...